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North America Hyperspectral Imaging Market Forecast 2021-2028

The North America hyperspectral imaging market is predicted to showcase a CAGR of 13.03% during the forecast period, 2021-2028. The rising investment in research and development activities by private organizations and government agencies propels the market growth of the region.

Canada and the United States are evaluated for the North America hyperspectral imaging market growth analysis. Canada has witnessed an increase in its military expenditure in recent years. The country is ranked 14th among other large spenders in the NATO alliance. This is set to propel the deployment of new surveillance technologies in the military sector, which is estimated to offer market growth opportunities. The mining sector of the country is one of the largest mining supply sectors across the globe. The sector alone contributed almost USD 56 billion to the country's GDP in 2015. Canada also houses more than 3700 companies that offer geotechnical, engineering, financial, environmental services. The country majorly produces and exports uranium, niobium, cobalt, nickel, potash, etc. The mining sector is increasingly adopting robotics and automation for several activities like tunnel boring, hauling, drilling, and loading, to meet the rising demand for mined minerals. Thus, there is an increasing demand for technologies that facilitate the detection of the location of such minerals. Such trends in different end-users in Canada are projected to fuel the adoption of hyperspectral imaging.

Some of the distinguished players in the market include Ximea, Resonon Inc, Specim Spectral Imaging Ltd, Surface Optics Corporation, Applied Spectral Imaging Inc, etc.

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North America Hyperspectral Imaging Market Forecast 2021-2028
Published By :Inkwood Research
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